The Fed cut rates by 25 basis points to the 4.25%-4.50% range and its summary of economic projections (SEP) indicated it will make rate cuts totaling a half percentage point by the end of 2025 given the solid labor market and the recent stall in lowering inflation.

The Federal Reserve today made its final interest rate decision of 2024, capping a year during which the central bank provided some financial relief to inflation-weary borrowers in September by ushering in its first rate reduction in four years.

The Federal Reserve's policymakers announced that they will cut the benchmark federal funds rate by a quarter point in December, marking the central bank's third straight cut.

WASHINGTON -- Below is the statement the Federal Reserve released Wednesday after its latest policy meeting ended:

The number of people filing for initial unemployment benefits last week fell 22,000 from the previous seven-day period to a seasonally adjusted 220,000, the Labor Department said.

Federal government shutdowns can be disruptive, with thousands of workers furloughed and most of them not getting paid on time. Taxpayers won’t get calls returned, there may be longer lines at airports during one of the busiest travel weeks of the year and many national parks will close.

President Joe Biden waited two years into his term in office to issue his first presidential veto, but he's primed to conclude his term with 13.

For the quarter, the Voya Large Cap Growth Fund underperformed its benchmark, the Russell 1000 Growth Index on a NAV basis. Click here to read the full commentary.

The Census Bureau estimates that the U.S. population grew by 8.5 million over the past four years, with immigrants making up the vast majority.

President-elect Donald Trump is picking from his most loyal supporters as he creates his Cabinet and appoints others to key roles within his administration.

Economists generally agree that broad tariffs on trade partners would lead to higher prices, with the burden falling on US businesses and consumers. This price increase could drive inflation higher, potentially disrupting the Fed's interest rate cuts and causing volatility in financial markets, thereby increasing economic uncertainty.

Some U.S. colleges and universities are advising international students to return to campus before President-elect Donald Trump is inaugurated.